The Internal Revenue Service (IRS) frequently updates its policies to account for inflation, cost of living, and rising prices. While many adjustments for the 2025 tax year have already been announced, some key items remain unchanged. Let’s cut into the three notable aspects of the tax code that are staying the same this year. Unchanged … Read more
The Internal Revenue Service (IRS) has announced important changes to tax brackets, standard deductions, and credits for 2025, aiming to help taxpayers manage inflation. These updates affect federal income tax brackets, standard deduction amounts, and eligibility for certain credits. Here’s a breakdown to help you understand what’s changing and how it may impact your taxes. … Read more
The IRS announces tax rule changes at the end of each year, affecting how much people pay in taxes. These adjustments are made to account for inflation, so people’s income keeps its value even as prices rise. The changes can affect income tax brackets, standard deductions, Earned Income Tax Credit, and Alternative Minimum Tax (AMT). … Read more
